Homag Group acquires all voting rights in Stiles Machinery

Published on : Tuesday, June 24, 2014

homagThe Homag Group acquired all voting rights in Stiles Machinery at the beginning of February, following talks between the companies that had been underway for the past year. Jürgen Köppel, the Homag Group board member who heads up the company’s Sales, Service and Marketing operations, was part of the board team that worked on the takeover of the USA’s largest machinery distributor. We talked to Jürgen Köppel about the strategy behind the acquisition, the “reindustrialization” of America and other moves the company has planned to build on the Homag Group’s position as a global market leader.

Mr. Köppel remarked, “The Homag Group’s strategy is to have its own sales and service organization presence in all relevant markets. As a first step in this direction, we either participate in minority shareholdings or set up our own sites. The American furniture market has been the world’s second largest furniture market for a considerable period of time, so it is a highly attractive market for our company. The Homag Group subsidiary Holzma had a 26.7% minority shareholding in Stiles. We knew that we had to engage with this market more effectively. After the acquisition, Stiles is now our largest sales and service organization worldwide, and it is located in the world’s second largest furniture production market.”

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